consortium relief


consortium relief
A modified form of group relief applying to consortia. A consortium is held to exist if 20 or fewer companies each own at least 5% of the ordinary share capital of the consortium company and together the consortium members hold at least 75% of the ordinary shares of the consortium company. Losses can be surrendered between the consortium members and the consortium company. The loss that can be surrendered is restricted to the proportion of the claimant's profits that corresponds with the surrendering company's interest in the consortium. From 1 April 2000 members of a consortium no longer have to be resident in the UK to qualify for relief.

Accounting dictionary. 2014.

Look at other dictionaries:

  • consortium relief — Companies which do not qualify for group relief may qualify for consortium relief. Where a company is owned by a consortium company, group relief can be surrendered from the consortium to companies in the same group as the consortium members and… …   Law dictionary

  • consortium relief — A modified form of group relief applying to consortia. A consortium is held to exist if 20 or fewer companies each own at least 5% of the ordinary share capital of the consortium company and together the consortium members hold at least 75% of… …   Big dictionary of business and management

  • consortium — con·sor·tium /kən sȯr shəm; shē əm/ n pl sor·tia / shə, shē ə/ also sortiums [Latin, sharing, partnership, from consort consors sharer, partner] 1: an agreement, combination, or group (as of companies) formed to undertake an enterprise beyond… …   Law dictionary

  • consortium — A combination of two or more businesses formed on a temporary basis, often to quote for and carry out a single large project. The purpose of forming a consortium may be to eliminate competition between the members or to pool skills, not all of… …   Accounting dictionary

  • consortium — A combination of two or more businesses formed on a temporary basis, often to quote for and carry out a single large project. The purpose of forming a consortium may be to eliminate competition between the members or to pool skills, not all of… …   Big dictionary of business and management

  • Consortium of Humanitarian Agencies — Consortium of Humanitarian Agencies(CHA) was established in Sri Lanka in April 1997 to serve a membership and has since become a national service provider in the non profit sector. CHA s field offices are located in 12 districts in the North,… …   Wikipedia

  • Consortium of British Humanitarian Agencies — The Consortium of British Humanitarian Agencies(CBHA) consists of 15 UK based NGOs ActionAid, Action Against Hunger, CARE International UK, CAFOD, Christian Aid, Concern Worldwide UK, Helpage International, International Rescue Committee, Islamic …   Wikipedia

  • group relief — Relief available to companies within a 75% group as a result of which qualifying losses can be transferred to other group companies. The losses transferred are available to set against the other group members profits chargeable to corporation tax …   Accounting dictionary

  • group relief — Relief available to companies within a 75% group as a result of which qualifying losses can be transferred to other group companies. The losses transferred are available to set against the other group members profits chargeable to corporation tax …   Big dictionary of business and management

  • Malaria Consortium — Area served Africa, Asia Focus Health Website http://www.malariaconsortium.org/ Malaria Consortium is an in …   Wikipedia